# Alford v. Shaw

> Supreme Court of North Carolina · July 28, 1987 · 320 N.C. 465

URL: https://www.frixlaw.com/law-library/cases/9565270

## Case

- **Full name:** FRANK O. ALFORD, WILKIE P. BEATTY, as Executrix of the Estate of PAUL B. BEATTY, CARSON INSURANCE AGENCY, INC., PATRICIA A. EDLUND, STANLEY EDLUND, JAMES M. GILFILLIN, LARRY G. GOLDBERG, RAQUEL T. GOLDBERG, BETTY F. RHYNE, ROBERT R. RHYNE and NORMAN v. SWENSON, Derivatively in the Right of ALL AMERICAN ASSURANCE COMPANY, Plaintiffs v. ROBERT T. SHAW, AMERICAN COMMONWEALTH FINANCIAL CORPORATION, GREAT COMMONWEALTH LIFE INSURANCE COMPANY, ICH CORPORATION, CHARLES E. BLACK, S. J. CAMPISI, ROY J. BROUSSARD, TRUMAN D. COX, FRED M. HURST, C. FRED RICE and PEGGY P. WILEY, Defendants, and ALL AMERICAN ASSURANCE COMPANY, Beneficial Party
- **Court:** Supreme Court of North Carolina
- **Decided:** July 28, 1987
- **Citations:** 320 N.C. 465; 358 S.E.2d 323; 1987 N.C. LEXIS 2299
- **Precedential status:** Published
- **Opinion:** Dissent by Webb
- **Judges:** Martin, Meyer, Mitchell, Webb
- **Cited by:** 31 later opinions in the Frix Law Library

## Citator (automated)

- No negative treatment found by the automated citator. That is not the same as a confirmation that the case is good law; read the citing cases.
- Full citator and citing cases: https://www.frixlaw.com/law-library/cases/9565270

## How later opinions describe it (automated extraction)

- stating in dicta that the "rule has provided the yardstick against which the duties and decisions of corporate officers and directors are measured"
- applying a “modified Zapata rule” where reviewing court must determine whether the transaction complained of was just and reasonable to the corporation

## Opinion text

Justice WEBB
dissenting.
I dissent. I do not disagree with the substantive matter in the majority opinion. This Court, however, has decided this case in a previous opinion which considered all matters discussed in the majority opinion filed today. I believe we are mistaken in changing an opinion so recently filed. I vote not to reconsider the case.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/cases/9565270. Public record. Not legal advice.